Biopesticides Market to Reach USD 21.81 Billion by 2031, Growing at 15.9% CAGR | SkyQuest Technology
Westford, USA, Aug. 08, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Biopesticides Market will attain a value of USD 21.81 billion by 2031, with a CAGR of 15.9% over the forecast period (2024-2031). Growing adoption of sustainable farming practices and imposition of stringent regulations to reduce the use of chemicals in farming are slated to drive biopesticide sales. Increasing emphasis on sustainability and growing demand for organic food products by consumers around the world will also favor sales of biopesticides.
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Browse in-depth TOC on “Biopesticides Market”
- Pages – 158
- Tables – 145
- Figures – 78
Biopesticides Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 6.7 billion |
| Estimated Value by 2031 | $ 21.81 billion |
| Growth Rate | Poised to grow at a CAGR of 15.9% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Crop Type, Formulation, Application, Source, and Type |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Rising emphasis on sustainability |
| Key Market Drivers | Adoption of precision farming and growing demand for organic food products |
Bans on Use of Toxic Chemicals Using Fungicides Promote Demand for Bio fungicides
Regulatory bodies and governments around the world are banning the use of fungicides with toxic chemicals in them thereby promoting sales of bio fungicides. Fungi resistance to traditional fungicides is also turning farmers towards bio fungicide adoption. Growing demand for safe and organic farming practices is also estimated to help this segment maintain a high market share.
Biopesticides Using Microbes are Highly Popular Owing to Their Ability to Promote Nutrient Uptake Naturally
Microbes release metabolites that help plants deter pests and also help promote nutrient absorption for plants through soils. Microbes can also be helpful in breaking down complex nutrients into more absorbable forms. Using these types of biopesticides has a minimal effect on human health, is less toxic, and helps preserve soil health.
Growing Adoption of Sustainable Farming Practices Helping North America Dominate Global Biopesticides Demand
Regulatory authorities and governments in the North American region are imposing strict regulations against the use of toxic fungicides and chemicals used in farming products. The aforementioned factor coupled with the growing adoption of sustainable farming practices is helping this region hold sway over others. Canada and the United States are slated to be the top markets for biopesticides companies going forward.
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Biopesticides Market Insights:
Drivers
- High adoption of sustainable and precision farming practices
- Growing availability of biopesticides
- Rising awareness regarding benefits of biopesticides use
Restraints
- Limited availability in developing countries
- Higher costs compared to traditional pesticides and fungicides
Prominent Players in Biopesticides Market
The following are the Top Biopesticides Companies
- BASF SE
- Bayer AG
- Certis USA LLC
- DowDuPont Inc.
- FMC Corporation
- Isagro S.p.A.
- Koppert B.V.
- Marrone Bio Innovations Inc.
- Monsanto Company
- Natural Industries
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Key Questions Answered in Biopesticides Market Report
- What drives the global Biopesticides market growth?
- Who are the leading Biopesticides providers in the world?
- Which region leads the demand for Biopesticides in the world?
This report provides the following insights:
- Analysis of key drivers (rising adoption of sustainable farming practices, growing demand for organic food products, rising awareness regarding benefits of biopesticides), restraints (high costs of biopesticides compared to traditional alternatives, lack of availability in developing countries), and opportunities (rising emphasis on sustainability), influencing the growth of Biopesticides market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Biopesticides market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
Related Reports:
Crop Protection Chemicals Market
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